Company: TetraLogic Pharmaceuticals
Based: Malvern, PA
Investors: Clarus Ventures, Hatteras Venture Partners, Amgen Ventures, HealthCare Ventures, Latterell Venture Partners, Novitas Capital, Quaker BioVentures and the Vertical Group.
Scoop: Last fall, TetraLogic reported that Pfizer Ventures had joined the syndicate of investors with an investment of $5 million, increasing the amount of Series C financing to $37 million. The initial Series C financing closing of $32 million was announced by TetraLogic August 10, 2010. Proceeds from the financing were slated to be used to advance clinical development of TL32711, TetraLogic's lead drug candidate for the treatment of cancer.
"This investment is part of Pfizer Ventures' overall strategy to finance emerging companies discovering and developing promising treatments for unmet medical needs, so we're very pleased to join TetraLogic and its investors to support its efforts to advance SMAC mimetics as potential new treatments for cancer," Elaine Jones, executive director of Pfizer Ventures, said in September.
TetraLogic also recently closed the $23 million second tranche of a Series C financing completed in October 2010.